--- title: "Meaning & Key Takeaway of: Fortunately, when Korea was struck by the…" description: "\"Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen o..." image: "https://sms4smile.com/quotes/i/961/lee-myung-bak-18109_been_fortunately-when-korea-was-struck-by-the_939492.jpg" --- # Fortunately, when Korea was struck by the 1997/8 financial… ![“Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.” quote by Lee Myung-bak](https://sms4smile.com/quotes/i/961/lee-myung-bak-18109_been_fortunately-when-korea-was-struck-by-the_939492.jpg) [Download](https://sms4smile.com/quotes/i/961/lee-myung-bak-18109_been_fortunately-when-korea-was-struck-by-the_939492.jpg) [Open image](https://sms4smile.com/quotes/i/961/lee-myung-bak-18109_been_fortunately-when-korea-was-struck-by-the_939492.jpg) > “Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. As a result, our financial regulatory structure and regime have been very much strengthened.” [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The crisis was leveraged as a catalyst to implement deep regulatory reforms, resulting in a stronger financial system. **In simple terms:** Crisis sparked reforms that strengthened finance. Key Takeaway Use crises to drive systemic improvement. Themes reform resilience finance policy leadership Mood determined optimistic Type political economic When to use this quote - government policy - banking sector - investment climate - public confidence Key Concepts financial regulation systemic risk economic recovery Questions to Reflect On - How can leaders turn shocks into lasting change? - What safeguards ensure reforms endure? A Different Perspective Reforms may face political resistance and implementation delays. ★ ★ ★ ★ ★ No ratings yet [Crisis](https://sms4smile.com/quotes/about/crisis/) [Financial crisis](https://sms4smile.com/quotes/about/financial-crisis/) [Korea](https://sms4smile.com/quotes/about/korea/) [Money](https://sms4smile.com/quotes/about/money/) [Opportunity](https://sms4smile.com/quotes/about/opportunity/) [Reforms](https://sms4smile.com/quotes/about/reforms/) [Regime](https://sms4smile.com/quotes/about/regime/) [Structure](https://sms4smile.com/quotes/about/structure/) ## Related quotes > [All of the candidates agree that the Democratic Party needs to undergo fundamental reforms.](https://sms4smile.com/quotes/martin-frost/all-of-the-candidates-agree-that-the-democratic-party-needs-to/) [Martin Frost](https://sms4smile.com/quotes/author/martin-frost/) > [If very fundamental reforms take place, especially when it comes to factors of production like land, labour, then a higher growth rate is possible.](https://sms4smile.com/quotes/urjit-patel/if-very-fundamental-reforms-take-place-especially-when-it-comes-to/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [The whole financial structure of Wall Street seems to rise or fall on the mere fact that the Federal Reserve Bank raises or lowers…](https://sms4smile.com/quotes/will-rogers/the-whole-financial-structure-of-wall-street-seems-to-rise-or-fall-on/) [Will Rogers](https://sms4smile.com/quotes/author/will-rogers/) > [“one country only depend on their financial structure.”](https://sms4smile.com/quotes/biil-fawcett/one-country-only-depend-on-their-financial-structure/) Biil Fawcett > [But we didn't have the financial structure, like the right attorneys, the right managers, the right accountants, and we were going against the grain…](https://sms4smile.com/quotes/solomon-burke/but-we-didn-t-have-the-financial-structure-like-the-right-attorneys/) [Solomon Burke](https://sms4smile.com/quotes/author/solomon-burke/) > [“These fundamental differences in financial structure affect the way retailers think and operate, which is a source of friction between them and manufacturers. 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I was able to take classes that strengthened my faith and helped me to better…](https://sms4smile.com/quotes/john-thune/i-valued-the-biblical-foundation-i-got-at-biola-i-was-able-to-take/) [John Thune](https://sms4smile.com/quotes/author/john-thune/) > [Belief in ourself is like a muscle - it is strengthened by constant and careful use.](https://sms4smile.com/quotes/catherine-devrye/belief-in-ourself-is-like-a-muscle-it-is-strengthened-by-constant-and/) [Catherine DeVrye](https://sms4smile.com/quotes/author/catherine-devrye/) > [Of course, learning is strengthened and solidified when it occurs in a safe, secure and normal environment.](https://sms4smile.com/quotes/jean-bertrand-aristide/of-course-learning-is-strengthened-and-solidified-when-it-occurs-in-a/) [Jean-Bertrand Aristide](https://sms4smile.com/quotes/author/jean-bertrand-aristide/) ## More by Lee Myung-bak > [From the Chinese perspective, Korea ranks about third or fourth in terms of trading volume and about third in terms of investment.](https://sms4smile.com/quotes/lee-myung-bak/from-the-chinese-perspective-korea-ranks-about-third-or-fourth-in/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [The role of G-20 is to support the global economy to achieve strong, sustainable and balanced growth.](https://sms4smile.com/quotes/lee-myung-bak/the-role-of-g-20-is-to-support-the-global-economy-to-achieve-strong/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [What we have is North Korea still pursuing path to a nuclear weapon state. So the majority of people's trust in North Korea has…](https://sms4smile.com/quotes/lee-myung-bak/what-we-have-is-north-korea-still-pursuing-path-to-a-nuclear-weapon/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [I'm well aware of the people's wishes.](https://sms4smile.com/quotes/lee-myung-bak/i-m-well-aware-of-the-people-s-wishes/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [If we are to assume that North Korea becomes a nuclear-power state, of course the danger of having an all-out nuclear war, that possibility…](https://sms4smile.com/quotes/lee-myung-bak/if-we-are-to-assume-that-north-korea-becomes-a-nuclear-power-state-of/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [Yes, I don't believe that the inter-Korean relationship has, quote, 'deteriorated' since I assumed office. Rather I believe that the relationship between the two…](https://sms4smile.com/quotes/lee-myung-bak/yes-i-don-t-believe-that-the-inter-korean-relationship-has-quote/) [Lee Myung-bak](https://sms4smile.com/quotes/author/lee-myung-bak/) > [Just to take a couple steps back historically, Korea, as you can see, is located among what we call big countries. 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I coulda played a great street urchin or ragamuffin. Or…](https://sms4smile.com/quotes/natasha-lyonne/i-would-have-done-well-as-a-gypsy-child-i-think-a-circus-baby-i/) [Natasha Lyonne](https://sms4smile.com/quotes/author/natasha-lyonne/) > [A lot of people have been saying 'The 100' reminds them of 'Lord Of The Flies,' 'Lost' and 'Battlestar Galactica,' and all of those…](https://sms4smile.com/quotes/marie-avgeropoulos/a-lot-of-people-have-been-saying-the-100-reminds-them-of-lord-of-the/) [Marie Avgeropoulos](https://sms4smile.com/quotes/author/marie-avgeropoulos/) > [I'm a character actor - always have been, always will be - and historically, character actors don't come into their own until later in…](https://sms4smile.com/quotes/annie-potts/i-m-a-character-actor-always-have-been-always-will-be-and/) [Annie Potts](https://sms4smile.com/quotes/author/annie-potts/) > [Well, I've been politically involved for a really long time. Growing up in the segregated South, it was a very painful experience for me…](https://sms4smile.com/quotes/cybill-shepherd/well-i-ve-been-politically-involved-for-a-really-long-time-growing-up/) [Cybill Shepherd](https://sms4smile.com/quotes/author/cybill-shepherd/) > [I've seen guys come along with more ability - they've been faster or bigger or stronger - but they never worked hard to develop…](https://sms4smile.com/quotes/steve-largent/i-ve-seen-guys-come-along-with-more-ability-they-ve-been-faster-or/) [Steve Largent](https://sms4smile.com/quotes/author/steve-largent/) > [I have always been a big meta guy because I think the way journalism is practiced in Washington, and the way everyone sort of…](https://sms4smile.com/quotes/mark-leibovich/i-have-always-been-a-big-meta-guy-because-i-think-the-way-journalism/) [Mark Leibovich](https://sms4smile.com/quotes/author/mark-leibovich/) > [Windmills and solar cells are carbon-free sources of electricity. But they are costly. If you've been investing in those, give it up. That game…](https://sms4smile.com/quotes/kenneth-fisher/windmills-and-solar-cells-are-carbon-free-sources-of-electricity-but/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [Once I committed to acting, this has been it.](https://sms4smile.com/quotes/ernie-hudson/once-i-committed-to-acting-this-has-been-it/) [Ernie Hudson](https://sms4smile.com/quotes/author/ernie-hudson/) > [I have never been in, nor have I had any strong particular desire to be in, what is termed a costume drama, but I…](https://sms4smile.com/quotes/martin-freeman/i-have-never-been-in-nor-have-i-had-any-strong-particular-desire-to/) [Martin Freeman](https://sms4smile.com/quotes/author/martin-freeman/) > [There has always been a feeling with people that they love my singing but not always the choice of material.](https://sms4smile.com/quotes/alison-moyet/there-has-always-been-a-feeling-with-people-that-they-love-my-singing/) [Alison Moyet](https://sms4smile.com/quotes/author/alison-moyet/) > [I've always been a believer in research. It's great to have an instinctual human reaction to a character, too, of course, but it has…](https://sms4smile.com/quotes/chiwetel-ejiofor/i-ve-always-been-a-believer-in-research-it-s-great-to-have-an/) [Chiwetel Ejiofor](https://sms4smile.com/quotes/author/chiwetel-ejiofor/) Browse all 13,699 Been quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Fortunately, when Korea was struck by the 1997/8 financial crisis, that was a good opportunity for us to engage in fundamental reforms and strengthen our financial structure. 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